From the Buffalo News:
The Niagara County Industrial Development Agency is considering tax breaks to help a Canadian company reopen two Niagara Falls hotels.
The IDA board accepted applications Wednesday from the Merani Group of Companies, based in Niagara Falls, Ont., for payment-in-lieu of taxes arrangements, or PILOTs, to help it buy the former Inn on the River and the former Fallside Inn.
In both cases, the Merani Group asked for 15-year PILOTs, but in the case of the Fallside, which may be demolished in whole or in part, the IDA voted to offer as many as five years fully tax-free instead of making the company pay a percentage of the full taxable value.
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Tags: buffalo news, fallside inn, inn on the river, merani group, ncida, niagara county industrial development agency
